Exhibit 7-15 Long-run average cost
-Given the short-run average total cost curves in Exhibit 7-15, what level of output per week minimizes average total cost?

Name: Exhibit 7-15 Long-run average cost -Given the short-run average total cost curves in Exhibit 7-15, what level of output per week minimizes average total cost?
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Question

Exhibit 7-15 Long-run average cost 
-Given the short-run average total cost curves in Exhibit 7-15, what level of output per week minimizes average total cost?

Quizplus · Accepted Answer

The level of output that minimizes average total cost is typically where the short-run average total cost curve is at its lowest point. In this case, it is at 1,000 units.

Exhibit 7-15 Long-Run Average Cost